Miami Sci Wellness INC EIN 45-4856457 Form 990 (PDF) Claim this org

Miami Sci Wellness INC FY2022 filing

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Reclaim lives through intense, exercise-based health programs boosting function and independence. For fiscal year 2022 it reported $638K in revenue, $412K in expenses, and $345K in net assets.Pt I

Type
Public charity (501(c)(3)) · Diseases & Disorders
Location
Miami, FL
Website
www.iamable.org
Filings
5 on file (2020–2022)
Revenue
$638KFY2022
Expenses
$412K
Net assets
$345K
People
3
Filings
5
Updates
0
More identity details & actions ⌄
EIN  45-4856457 Public charity (501(c)(3)) Miami, FL
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Reclaim lives through intense, exercise-based health programs boosting function and independence.
Leadership
Alfredo Iglesias · Executive Director
Money in and out
$638K revenue, $412K expenses
Bottom line
91% program efficiency
Where the money goes · FY2022
Total revenue
$638K
Pt VIII · Ln 12
Total expenses
$412K
Pt IX · Ln 25
Net assets
$345K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $226K
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.09
Program efficiency
91%
of spending reaches programs
Operating runway
14.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+35%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$638K
FY2022▲ +151%
Expenses
$412K
FY2022▲ +40%
Total assets
$853K
FY2022▲ +36%
Total liabilities
$508K
FY2022-0.09%
Total revenue
$638K
Pt VIII · Ln 12
Total expenses
$412K
Pt IX · Ln 25
Net assets
$345K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$226K
Total assetsPt X · Ln 16$853K
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43
Mission & Programs · Part III

Where the work happens

1 program service account for $376K of program spending, described in the organization's own filed words · FY2022.
01

Helping people reclaim their lives by providing intense, exercise based health & fitness programs designed to increase function and maximize independence.

$376Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMiami Sci Wellness INC
EINHdr · item D45-4856457
Principal addressHdr · item CMiami, FL
WebsiteHdr · item Jwww.iamable.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MFL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFDiseases & Disorders (G50)
Ruling yearIRS BMFMay 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$443K · 69%
Program service revenue$196K · 31%
Contributions & grants69%$443K
Program service revenue31%$196K
Investment income$23
Total revenueLn 12$638K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.09
Program services91%$376K
Management & general9%$36K
Total functional expensesLn 25$412K

Balance Sheet

Part X · end of year
CashLn 1$499K
Total assetsLn 16$853K
Total liabilitiesLn 26$508K
Total net assetsLn 32$345K
Months of cash on handcomputed14.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $499K · Operating expenses/yr $412K
14.5 months
Where the money goes
Program services
Program services $376K · Total expenses $412K
91%
Management & General
Management & general $36K · Total expenses $412K
9%
Fundraising
Fundraising $0 · Total expenses $412K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $203K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $443K · Total revenue $638K
69%
Government reliance
Government grants — · Total revenue $638K
Earned-income share
Program service revenue $196K · Total revenue $638K
31%
Investment reliance
Investment income $23 · Total revenue $638K
<0.01%
Program self-sufficiency
Program service revenue $196K · Total expenses $412K
47%
Growth & trend
Revenue growth (YoY)
This year $638K · Prior year $254K
+151%
Net-asset trend (YoY)
End of year $345K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $638K · Expenses $412K
+35%
Liabilities-to-Assets
Total liabilities — · Total assets $853K
Net-asset ratio
Net assets $345K · Total assets $853K
40%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $853K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Alfredo Iglesias · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $0 · Total expenses $412K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $221K · Total expenses $412K
54%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 9%
Fundraising cost ratio 0%
Revenue growth 151%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$18K
Grants paid · 5 grants · $156K · 2020–2024
Unitemized GrantFY2024$33,570
Unitemized GrantFY2023$39,185
Unitemized GrantFY2022$27,913
Unitemized GrantFY2021$33,708
Unitemized GrantFY2020$21,423

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$264K revenue · ⤓ 990 PDF
FY2023$361K revenue · ⤓ 990 PDF
FY2022$638K revenue · viewing · ⤓ 990 PDF
FY2021$254K revenue · ⤓ 990 PDF
FY2020$271K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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